By Carole Hawkins, Staff Writer
What are the most important activities you would recommend to someone starting a real estate career?
“Take small bites. Learn the inventory, and not just what’s for sale in your general area, but also what has sold, and gain knowledge. When you do get the opportunity to sell something, it’s important to know what the market is like in that area.”
Greg Crum, Watson Realty, St. Augustine, closed $28 million in 2012 and 2013
“I created a database of my sphere of influence. I started farming a community that had high turnover at a price point that was selling in my market. And, I tried to get the best training I could. I chose a company that wasn’t the best in sales, but they seemed to have the best training in our market at that time.”
Betsy Pepine, Pepine Realty, Gainesville, closed $30 million in 2013
What activities would you recommend to somebody who already has experience, but wants to take their business to the next level?
“When I first got into real estate my goal was to pay the bills. But, a lot of mentors I had encouraged me to think big. So, number one, take your goals and multiply them by 10. Number two, change your mindset to — you’re in a lead-generating business. A lot of times people think ‘I’m just here to show a house.’ Your goal should be to figure out how to best generate leads. Pick four to six channels that you’re very good at and commit to them. Three, find a mentor that you admire outside your community. Because they’re a lot more willing to share with you what’s working and what’s not working.”
Betsy Pepine, Pepine Realty
“I really listened to my buyers and let them tell me what they wanted. Once I showed them two or three homes, I’d get an idea of what they were telling me they wanted, instead of me just taking them to all these different homes in their price range. I went to open houses so I would have knowledge of what’s on the market. Then I could tell the buyer, ‘This may not be it, but I saw this home the other day. I think it would really meet your needs.’”
Missy Zecher, Re/Max Professionals, Lake City, closed $20 million in 2013
“It’s important to educate yourself, even at the local board. Get involved with what the lenders are doing. There are changes in lending every day. We need to know the market ourselves so we can educate buyers”
Jackie Darby, ERA Fernandina Beach Realty, Amelia Island, closed $7 million in 2013
Where does the majority of your business come from?
“From your spheres of influence. But of course you have to be remembered. So, I developed a newsletter that goes to my clients every month — 1,500 pieces. It’s a light-hearted newsletter that keeps my name in front of them.”
Richard DeCeglie, Watson Realty, Palm Coast, closes $3 million to $4 million annually as single producer
“From spheres of influence and referrals from past customers. Technology does create leads, but it doesn’t generate that personal touch that you get from previous customers that tell their friends what a great job you did for them.”
Greg Crum, Watson Realty
“It all comes from having systems to stay in front of your customers in a consistent way. Also the data that I provide is not always about real estate. It’s something that’s just valuable to that person that they can read and they’re going to feel connected to me.”
Kim Knapp, Coldwell Banker Vanguard Realty, Fleming Island, closed $325 million in 14 years
You have a large volume of sales. Do you have assistants, a team? How do you manage all of this?
“I found the most effective thing was not to get another buyer’s agent, who was running around with their hair on fire like me, but to get an assistant and get systems in place. Since I was the rainmaker, I could go make rain, then hire another administrative person.”
Kim Knapp, Coldwell Banker Vanguard Realty
“I have a friend who became a Realtor. We never teamed up, but I trained her in what I knew, and we worked together and paid each other fees when we helped each other. Last year I took 10 trips. You can’t do that if you don’t have someone to give your business to, that can take your files and run with them when you’re gone.”
Jackie Darby, ERA Fernandina Beach Realty
How do you handle or deal with a seller who has an unreasonable expectation of what their property value is worth?
“In our market, prices are still recovering. So our sellers paid ‘X’ amount and the price I give them is substantially different. I tell them I’m not trying to sell your house. I’m trying to give you helpful advice. First, it may not be time for you to sell if you don’t have to sell. Second, I understand your perspective. My husband’s a builder and we bought real estate from 2004 to 2010 that we lost money on. We just had to say, ‘Is this a good business decision for us? Is it time to dump the debt? Is the price ever going to get back to what you paid for it?’ And really just walk them through the business side of the decision. Help them work through it.”
Missy Zecher, Re/Max Professionals
“I tell them, there’s three ways to price a house. One is to price it clearly above market value. This is for the pie-in-the-sky buyer that’s going to land on your doorstep and falls in love with your and only your house. It’s designed for a buyer who is just throwing their house on the market and maybe it sells.
The second is pricing at market value. This is where you’re going to find your most competition, because most sellers are going to price their house at market value, so be prepared to stay on market for the average length of time.
The third is to price slightly below the market, and the reason for that is because sellers will come out usually with a higher-net proceeds. On a house that’s move-in ready and has current upgrades, you’re going to create a buyer’s frenzy and you’ll probably get multiple offers in a week, above asking price. And you won’t have the carrying costs of holding your house for several months.
They can choose the strategy, but at least you’ve managed expectations.”
Betsy Pepine, Pepine Realty
How do you manage the buyers’ expectations? Do you show them however many homes they want to see?
“A lot of times what the customer thinks they want is not what they want at all. The listing they call you to see is not generally the one they buy. I try to limit my showings to five to seven at a time, because I know for a fact they’re just not going to retain information unless they furiously take notes. Showing 15 in a day is almost a waste of time.”
Jackie Darby, ERA Fernandina Beach Realty.
“I say, ‘Send me a few MLS numbers, show me what is catching your eye. I will show you those, but you’re going to go see the ones I’m picking for you also.’ I really study what they send me. And almost every time, the one they buy is one that I pick.”
Missy Zecher, Re/Max Professionals
“After I’ve done my market analysis, if they still insist on the higher price I say, ‘You can list it at that price and I hope you can find a Realtor that will, because it will help my other listings.’”
Richard DeCeglie, Watson Realty